If you are a visual learner, you will be impressed or even shocked by a satellite map view of cities where foreclosures are dominating the real estate landscape.
The Business insider has compiled data of 20 U.S. foreclosure hot spots and presented that data as red dots on Google maps. As you might predict, California and Florida take most of the top foreclosure spots. Las Vegas is holding on to first place, with 1 in 9 homes currently in foreclosure.
I believe the foreclosure problems today would be far less, if the government had not intervened with all of its futile “save the underfunded homeowners who over-borrowed” programs. All this did was delay the inevitable.
Here is the link to the satellite tour.: A Frightening Satellite Tour Of Americas Foreclosure Wastelands.
Do you think when all of this over lenders will remain steadfast in requiring substantial down payments and rock solid personal balance sheets? I think most will until some idiot politician renews the call for “homeownership for everyone.”
Your thoughts?
This is an article from Tough Money Love
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